RUMOR: Apple Working on Smaller and Cheaper iPhone

Bloomberg and The Wall Street Journal are reporting that Apple is working on creating a smaller and cheaper iPhone. I wouldn’t put too much trust to these rumors, it’s basically just the same speculation many people having been talking about for a long time. I don’t personally believe these rumors. You can already get an iPhone 3GS for $99, so I have a hard time believing Apple will make a phone cheaper than that.